South Sudan’s Vice President James Wani Igga says there is need to respect rules and guidelines of the country’s central bank, warning against the continued interference in the bank’s affairs.
The Vice President made the remarks in Juba at the launch of the Central Bank’s strategic plan for 2018-2022. The event was also attended by senior government officials including the country’s First Vice President
Taban Deng Gai.
Igga said interferences in the bank’s affairs by some people can disable it completely.” Interferences can disable any central bank,” he said.
He pointed out that the central bank should use the interest rate as a tool to accomplish its goal, noting that modern economies are intrinsically linked to interest rate levels.
Igga emphasized the need to find a solution to the rising inflation and unemployment of youth.
On Tuesday, President Kiir South Sudan's said the Central Bank has run out of cash. “The attempted forceful taking of power has brought us now to this stage where we have no money in our bank,” he said.